Considerations for Your Church’s Fiscal Year-End
If your church uses a fiscal year-end of December 31, you may want to consider changing it. A fiscal year change would not result in tax consequences for either your church or your donors, and it could provide several advantages.
IRS Launches New Online Tool with Enhanced Data on Exempt Organizations
The new Tax Exempt Organization Search (TEOS) is designed to provide users with faster, easier access to more types of information.
Is it a Merger or an Acquisition?
While the terms “merger” and “acquisition” are often used interchangeably, they are quite different from an accounting standpoint.
IRS Examination of Churches
Learn about a recent ruling on who has the authority to approve an IRS examination of a church under section 7611.
Taxability of Transportation and Parking Fringe Benefits
Under the new tax law, organizations that provide qualified transportation and parking fridge benefits to employees must now include the value in UBIT and report it on Form 990-T.
IRS Issues Guidance on Failure to Meet Required Minimum Distribution Standards for 403(b) Plans
The IRS has directed employee plan examiners to not challenge 403(b) plans for failing to satisfy the required minimum distribution standards if the plan cannot locate the participant and has taken certain steps.
Important Cybersecurity Questions for Your CPA Firm
There is no shortage of warnings from the IRS and others about prevalent fraud schemes, phishing attempts, and other cybersecurity issues.
Cybersecurity Team Demonstrates Hacking Risk on NBC Nightly News
How easy is it for hackers to gain access to your network? The team from Traina & Associates, a CapinCrouse company, demonstrated in this NBC Nightly News segment.
Are Identify Theft Protection Services Worthwhile?
With all the recent cyber breaches exposing personal information, many people are wondering whether they should subscribe to an identity theft protection service. Here are a few things to keep in mind.
Section 529 Accounts Are Now Available for Private School Tuition – Part Two
Because 529 accounts are defined in the Internal Revenue Code, it is not automatic or required that the states recognize changes made at the federal level.